What is Bitcoin?
Bitcoin can be likened to the Naira on many levels. Having a wallet which is similar to the bank account you may have for your Naira, allows for easy but secure access to your money on demand. The Bitcoin is a currency in its own right and you can buy from a local exchange such as Luno and use it identically as you would the Naira sending and receiving. It also has incorporated the Blockchain which is a framework allowing you to keep track of transactions and increasing the overall transparency as you know exactly where your money went and how much.
The Bitcoin Price?
Bitcoin price is fairly stable and reliable for consumers. Holding value is a key factor when choosing whether to invest or hold Bitcoin as when you compare it to the Naira, cryptocurrencies like Bitcoin is much more stable with a solid exchange rate so long term holders are unlikely to see a crash in value while Naira users are particularly susceptible to political movements and commodity price changes. However for investors shorting Bitcoin is particularly beneficial as with a number of exchanges you can buy cheaply and sell at profits within a matter of minutes as exchanges such as Luno offer some of the most competitive rates on Bitcoin, Etheriun, Bitcoincash, Litecoin, etc. Purchasing Bitcoin will also allow you to delve into trading alternative cryptocurrencies which are much more volatile but mirror Bitcoin in terms of economy.
How to get a Bitcoin wallet?
Signing up for a Bitcoin wallet is easy when done on the web. Web wallets such as Blockchain.info have become popular lightweight alternatives to downloading the whole Bitcoin application core. Luno has wallets for various cryptocurrencies. Within a few minutes through the guided prices you can choose your own password and are eventually greeted by the dashboard which shows all incoming and outgoing transactions as well as our balance.
Where to buy Bitcoin in Nigeria?bitcoin in Nigeria
Bitcoin can be brought peer to peer from other users around Nigeria but for added security and a premium rate for your Naira, Luno has been recommended as the best exchange in Nigeria currently offering unbeatable rates on your Naira when buying cryptocurrencies. Please kindly use VGXWH as your referral code, thank you.